ASEAN enjoys best business prospects
ASEAN enjoys best business prospects
SINGAPORE (AFP): ASEAN and to a large extent Greater China are the regions with the best business prospects in 1996, according to the results of an annual survey by the Far Eastern Economic Review (FEER) released yesterday.
"ASEAN received a healthy 45 percent vote of confidence by respondents as the region that represents attractive prospects for business over the next year," L. Gordon Crovitz, editor and publisher of the magazine, said.
The Association of Southeast Asian Nations groups the bustling economies of Brunei, Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. Greater China encompasses China, Hong Kong and Taiwan.
The FEER survey, The Review 200: Asia's Leading Companies, will be published in the December 28-January 4 issue of the Hong Kong-based magazine.
Some 4,000 business executives participated in the survey conducted by the media research firm Survey Research Singapore.
Out of 11 Asian countries surveyed, only business decision makers from India showed significantly less interest in Greater China and more enthusiasm for Western markets such as North America and Europe, the magazine said.
"However, they agree ASEAN holds the most potential," it said in a statement received in Singapore.
"With the opening of the huge China market, it is only natural that neighboring countries with investment capabilities and know- how are rushing to claim their stakes," Crovitz said in the statement.
"Countries within Greater China, Taiwan and Hong Kong in particular, are also targeting their efforts within the region itself," he added.
The ASEAN region received the highest score in the survey, followed by Greater China, North America, Indo-China, Europe, and Australia and New Zealand.
"Compared to respondents from other countries surveyed, only Japan, with 41 percent, and Taiwan, with 32 percent, considered North America to be good business prospects for their companies.
"ASEAN also received 50 percent of the votes by the Japanese respondents," Crovitz said.
Thai business decision makers regarded Indo-China as the top region for business prospects, and other ASEAN members recognized Indo-China's potential as well. But non-ASEAN countries such as Hong Kong, Taiwan, India, Japan and Australia put Indo-China at the bottom of their lists.